looking at a report by The Economist magazine which has revealed that Nigerian federal legislators were the highest paid lawmakers in the world, with a basic salary of $189,500 per annum (N30.6m).
This is an interesting if not worrying information if we take into account that the members of parliament in Britain recently turned down the recommendations of an independent commission that their pay should be reviewed upwards to 74,000 pounds by 2015
Whats your take on this; can this development righted or is it OK the way it is
Quoting data from the International Monetary Fund and The Economist magazine of London, the study looked at the lawmakers’ basic salary as a ratio of the Gross Domestic Product per person across countries of the world.
According to the report, the basic salary (which excludes allowances) of a Nigerian lawmaker is 116 times the country’s GDP per person of $1,600.
The $189,500 earned annually by each Nigerian legislator is estimated to be 52 per cent higher than what Kenya legislators, who are the second highest paid lawmakers, earned.
An Associate Professor of Economics at the Ekiti State University, Dr. Abel Awe, said the lawmakers’ jumbo salary was indicative of the huge gap between the poor and the rich as well as between the ruler and the ruled.
He said it was unfortunate that the country was running the costliest democracy in the world.
Awe said, “This is part of the reason why 70 per cent of the nation’s budget is allocated to re-current expenditure. We are using a huge chunk of the nation’s resources to service just less than 1,000 people in a country of over 160 million people.
“We are running the costliest democracy in the world. We can’t develop this way when we spend huge money to service a few people. How will you get money for productive activities to expand the economy? An average Nigerian cannot access good medical care, good roads and other basic things of life when the legislators are smiling to the bank.
“This democracy is satanic. We have to review this democracy. The cost of maintaining the lawmakers is outrageous. What they are taking is too much.”
Taken from Nigeria info facebook page